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Less than a decade ago, crude oil reached its all time high of just over $147 a barrel. Today, that same barrel costs under $50 per barrel. With oil so cheap, instead of slowing down, U.S. oil companies are increasing drilling and doubling U.S. oil inputs? U.S. oil is such a small percentage of the global oil supply, yet our country is disrupting the global oil industry. How, exactly? And what can we expect next for oil?
Read The Capitalist’s Take Here
Read More at Reuters Here
Read More at the Daily Caller Here
ISIS CLAIMS RESPONSIBILITY FOR TERRORIST ATTACK ON IRAN PARLIAMENT, LEAVING 12 DEAD
Suicide bombers and gunmen attacked the Iranian parliament and Ayatollah Khomeini’s mausoleum in Tehran on Wednesday, killing at least 13 people in an unprecedented assault that Iran’s Revolutionary Guards blamed on regional rival Saudi Arabia. Islamic State claimed responsibility and threatened more attacks against Iran’s majority Shi’ite population, seen by the hardline Sunni militants as heretics. Iranian Foreign Minister Javad Zarif tweeted: “Terror-sponsoring despots threaten to bring the fight to our homeland. Proxies attack what their masters despise most: the seat of democracy.”
Read More at Reuters Here
Read More at TIME Here
Read More at NY Times Here
TWENTYFIRST CENTURY FOX’S FOXNEXT BUYS GAME MAKER AFTERSHOCK
FoxNext, the recently formed gaming, virtual reality and theme parks division of 21st Century Fox, is sinking its teeth into the $40 billion mobile games market.
FoxNext has acquired mobile-game developer Aftershock, the entity spun off from Kabam after South Korean gaming company NetMarble acquired Kabam’s Vancouver studio and other assets last December in a deal reportedly worth up to $800 million.
Aftershock — which has studios in L.A. and San Francisco — currently has three titles in development. The only one that’s been publicly announced is a massively multiplayer mobile strategy game for James Cameron’s “Avatar” franchise, in partnership with Lightstorm Entertainment and 20th Century Fox.
Read More at Variety Here
Read More at The Street Here
Read More at Wall Street Journal Here
Closing Bell
– Wednesday, June 7th
Markets Tick UP as Oil Drops on Supply Data
Big Insider Trades
– New Relic, Inc. (NEWR) CEO Lewis Cime Sells $1.5m
– Tallgrass Energy Partners, LP (TEP) CEO David Dehaemers Buys $1.6m
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